The Evolution Of Trade €“ Economic Relations Of Russia And China As A Factor Of Economic Development Of The State

For centuries, trade and economic relations between Russia and China have been developing. A new level of bilateral relations began in 2000 with the election of President Vladimir Putin. The main principles and directions of bilateral cooperation are reflected in the Treaty on good-neighbourliness, friendship and cooperation between the Russian Federation and the People's Republic of China. Sino-Russian cooperation at the present stage includes various areas of cooperation. More than 50% of Russian exports to China account for energy, and for oil supplies in 2017, Russia bypassed Saudi Arabia. China has become a major buyer of Russian food. And this fact is certainly a positive moment in the development of trade between the two countries. Investment cooperation is one of the priority areas of development of Sino-Russian trade and economic relations. It is also stated that China's investment in the Russian economy exceeds ten times the volume of Russian investment in the Chinese economy. China is becoming one of Russia's largest trading partners, which determines the future prospects of this mutually beneficial cooperation.